tv Countdown to the Closing Bell With Liz Claman FOX Business November 5, 2016 3:00pm-4:01pm EDT
>> three days to go in the 2016 presidential election is in a virtual tie. donald trump's campaign no longer taking baby steps. now taking sleeps and bounds across the country. at this moment the billionaire businessman is on the way to nevada. it will be the third of four states he hits today. now, less than an hour ago in north carolina, mr. trump introduced his wife melania, blasting hillary clinton for her e-mail scandal and bragging that huge crowds are coming to see him when hillary clinton needs celebrity a-listers to fill an arena. and hillary clinton wrapping up an event in florida an hour ago.
the former secretary of state maintaining a minuscule lead, but black clouds are hanging over the clinton campaign and pain -- rain washing away after seven minutes of a speech in pembroke pines. fox business is hot on both the trails. countdown to the closing bell. clinton supporters, trump fundraisers and the all important balance of power in the senate. and the house race and the breaking news coming right now out of mosul, iraq. welcome to our special live coverage of the election. let's start the countdown. so the countdown this saturday is not to the closing bell because the markets are closed, but to the presidential
election. the chess pieces are on the move at this hour, both candidates hitting the campaign trail, sprinting toward the tuesday finish line. at this hour we need to tell you that donald trump is on the way to reno, nevada. hillary clinton is headed to philadelphia and the two presidential hopefuls are in a dead heat. uncertainty is bubbling up over wall street and onto main street. folks, it's highly unusual to see nine straight days of losses for the stock market. the s&p 500 endured exactly that. yesterday was the ninth day. check out the drop, it's the longest losing streak affects your 401(k)'s, your pensions your money. and will it continue on election uncertainty. no uncertainty about warren buffett's stellar record. late yesterday after the market closed his conglomerate berkshire hathaway delivered another quarter of higher revenue and plenty of cash to play with. the oracle of omaha boasting $85 billion tucked away for future acquisitions and made no
bones about the fact that he supports hillary clinton. speaking of corporate shopping sprees, oracle is one step closer to completing a 9.3 billion deal to buy pioneer net scituate. kicking off deals with october, half a trillion in mergers and acquisitions. we call it m and a here. we've got team fox business coverage, all-stars positioned in the kilocations along the campaign trail. blake burman is in wilmington where donald trump wrapped up the second event of the day. connell mcshane in philadelphia where hillary clinton will campaign later with singer katy perry. but to the race for the white house, which is in whirlwind mode for the final weekend before election day, donald trump and hillary clinton pulling out the stops at this hour, in pivotal battle ground states. hillary clinton speaking earlier in florida, donald trump in the crucial north carolina states.
the path to 270 electoral votes means both states are essentially must-wins for donald trump. however, the race is closer than ever, folks, at least according to a brand new fox news poll. on the screen. hillary clinton has now just a two point edge over trump compared to five point lead last week. blake burman in wilmington, that's in north carolina where he wrapped up the speech. mr. trump is on the way for the third stop of the day. what just happened where you are and what you can glean from that. >>. >> hi there, liz, a happy saturday the first time i can say that to you. we're in southeast north carolina. donald trump just wrapped up an event in wilmington. we just got a look moments ago at the brand new numbers out from the state of north carolina as relates to early voting in this state. there's a couple of different ways to look at it. i'll break it down. right now, democrats in the state.
there have been 300,000 more democrats who have already voted here than republicans. en 0 the democratic side, one might look at that and say, hey a lead is a lead, 300,000, who wouldn't wouldn't that. in the bigger cities, north carolina would favor them, but however, when we spoke to republicans at the national committee about this, they say, look, here is the argument that they made. they said back in 2012 when mitt romney won this state, he, too, was down 300,000 votes, heading into election day. and ended up winning north carolina by a little less than 100,000 votes or so. so, now, here we are three days before and they say we're just about at that same number and they believe, republicans do, at that they are he a running slightly ahead, donald trump is, of where mitt romney was in 2012. trump just wrapped up an event here in wilmington, north carolina, joined by his son eric, and his wife spoke as well.
with real clear politics showing trump leading by a shade under 1%. we are talking about fractions here. trump says he believes that another brexit is playing out. >> we're winning almost everywhere, folks. this is going to be brexit. this is going to be special. you have to get out and vote, but this is going to be special. >> i mentioned that melania trump was here, that was somewhat of a surprise. joined her husband and came down the plane with him and ended up speaking and tried to make the argument that her husband, donald trump would be the one to rev up the economy and revival at one point as she put it. i will leave you with this, on donald trump's website right now, his schedule shows that tomorrow, as it stands at this point moment, are expected to go to michigan. last night on an r.n. c call there were four states that the republican national committee folks talked about with the data, florida, iowa, north
carolina, and michigan. seemingly out of nowhere, now it appears we've got a trump stop in michigan. something to keep an eye on. liz: it is, traditionally as you say a blue state, blake. thank you very much, blake burman in north carolina. now to that key battle ground state of pennsylvania. folks, this is breaking here. a philadelphia judge just made a controversial ruling in the past couple of hours. philadelphia's transit system, in case you didn't know, has been at a stand still since tuesday morning when 4700 union workers went on strike. this is significant, even if you live nowhere near pennsylvania. with just days to the election, the judge in philly says there's not enough evidence to halt the strike and force workers back on the job. the judge had as scheduled a hearing for monday morning. why does this matter so much? voters who depend on the transit system. will they be able to get to the polls on tuesday? connell mcshane is in philadelphia where hillary clinton is attending t
lifting up babies. [laughter] connell brought up the wikileaks information and the house members running for reelection, they have to answer that. let's bring in someone running for reelection, and showing him keeping his republican competitor at bay. we join with democratic congressman from california, a hillary supporter, thank you here with our live coverage. >> a pleasure to be here, looks like a victory on tuesday. liz: looks like a victory for you for now, you're ahead in the polls. some of the vote,are conflicted. are, because they seeing the wikileaks dump now more than 50,408 e-mails and pile on the fbi investigation. how are you contending, as
you're out on the campaign trail, with questions about this? >> actually, very, very few guess about it. people digested this long ago and they had. they also understand and asked me about, why isn't anybody talking about russia here? these wikileaks came from a russian hack of an american political system and you know, they're going, well, why aren't they talking about that? and why aren't they talking about the fact that this affects only democrats and not republicans? is russia trying to play a game here? those are the kind of questions i get. not about the individual e-mails. they don't know whether they're accurate or not and they've been going on and on for now, more than a year. so, they've digested it, but they're really, really concerned about the russian influence or attempt to influence the american election. liz: fox business has talked about the russians and how perhaps they are doing something quite nefarious by getting this involved. >> no doubt. liz: you can't deny,
congressman, when you see the polls this close, look, general elections tend. >> sure. liz: to tighten up in the last few days. >> yes. liz: and that's exactly what we're seeing here. unaffiliated voters are really questioning this right now. so, i guess, as you look at all of the events swirling around on the campaign trail and california, you look pretty strong here, but what is hillary clinton's message? what would you like that message to be in these final hours? >> well, i think there's two different things that are being said. both are important. first of all, there's a clear contrast in temperament and the way in which people would handle their job. hillary handles things in a-- in my view, in a very informed and a very thoughtful way. trump has a long history as we've seen over the debates and when he's not reading the teleprompter, of really going off in really strange directions, so that temperament issue is out there and hillary talks about it, others talk about it and it is an issue.
the other thing are the policies that are necessarily going to be taken up after we go back in january for the next congress and those are profoundly important policies. i just heard, for example, mr. trump on the trail, i guess it must have been in north carolina saying one thing that he was going to renegotiation nafta. okay. and then he was going to dump it and then start all over and renegotiate. well, you're negotiating and renegotiating, it's that lack of clarity. nafta is it a problem and certainly had as about anden when you talk about what's going on with the trans-pacific partnership. hillary did what exactly a thoughtful person would do and say, okay, we would like to see international trade-in crease and looked at the final language and said this doesn't work, and opposed it. liz: before you break, maybe bending, some call it flip-flopping. >> it's not at all.
liz: let's get this out to your viewers, our viewers, it's important and it's 10 p.m. around that time in iraq. and it appears that the iraqi army has liberated the town just south of mosul, which is, of course, the isis strong hold. al alil. the iraqis are pushing into mosul. you're in congress. there are questions of boots on the ground and the next president may have to make some serious decisions. >> i think we're on the right track here, this has been a very, very difficult situation and started when the maliki government pushed sunnis out and left them isolated and that became the opportunity for isil to take over mosul and other cities in the area. the iraqi army was completely decimated, had to be rebuilt, took time and now it's together with other allies, america, and
the kurds, moving very carefully and strongly to retake the singlemost important say that isis has held for more than two years. it's a very, very important campaign. and it's going according to plan. in order the generals know what they're doing. liz: okay. we've got to run. >> mr. trump may think he knows more, but the generals are right on track. liz: believe it or not, we're live and we've got to run, or i'll be cut off. it's not a game show. >> thank you. liz: and wall to wall coverage, election night on tuesday, i'm actually going to be on the floor of the new york stock exchange. the markets could be squirrely, we don't know, but then my assignment is a great one on the balance of power in the house and senate as neil, lou and stuart take you through the closing bell to the election of the president. did i say live? yes, live, please don't go away.
launching a new ad that will air in swing states of north carolina, florida, ohio and pennsylvania. what this ad does, it asks viewers whether they should invest in a president too consumed by scandal, quote, to lead. billionaires sheldon adelson and joe rickets are responsible for the latest push. let me bring in a member of the donald trump's c-- and anthony scaramucci. >> have you seen the ad? it's a litigation of what she's -- litany of what she's done the last 30 years and aftermath. the person people know if she's elected president they're in for a rough sledding. it took 18 months to eject richard nixon from the 1972 election. so we want the american people to understand what they're up
against if they choose her versus mr. trump. liz: and money mothers before the election. donald trump no doubt has momentum. but when you look at the electoral college map hillary clinton is well above 270, the key number and donald trump is below it, although gaining. >> yeah. liz: do you see that path? >> so and that's the fox news polls are saying that. our internal polls show him a little bit closer, in states like pennsylvania and michigan. donny, jr. and i were talking about it the other day, the placards for mr. trump in pennsylvania were overwhelming. i was on a radio show and i asked have you seen any hillary signs anywhere and the answer is no. so his enthusiasm is there, liz, so, it's really going to come down to who shows up to vote on november the 8th. i'm not saying that the polls are not accurate. sean hannity and i have talked about that, you and i have talked about that, it's close and we know it's close, it's going to be who is going to show up at the polls and we want people to get that message
that they're in for a handful if they elect her. liz: you are a centrist republican. >> i am. liz: i don't know if you know anthony scaramucci. i know anthony scaramucci. >> i'm a centrally republican. liz: you'll talk to anybody. do you see on the election, depending who wind scorched either so damaged we won't see anyo anyone. >> donald trump is a great sport. liz: he said rigged election until things are swinging in his favor. >> he is because we've seen evident of it. you're a journalist, i play a journalist on television, we've seen evidence of it and so, we're cautious about that. and by the way, there has been some of it on the other side, too, so we just want the election to be fair. we want the american people to see the contrast and the choice that they have. my sense is that he's going to win. i think he's going to win in a surprising way, similar to what happened in brexit.
if you and i were sitting 24-48 hours before the brexit vote and asked me, look, they're going to stay in the eu, it ended up being 52-48 leave. to your point, i am a patriot first, i'm a partisan second. i want the country to do better. there's so many things that we can be doing from a policy perspective to help the american people and i want to be a part of that solution. >> my dad used to say vote the person not the party. if you see a quality person vote for them. >> your dad was irish? >> irish by way of russia. listen, good to see you. >> 'cause my viewers always say-- i love that irish woman on wall street week. liz: my uncle lived in ireland and my aunt is irish, love it. we're inclusive here on countdown. thank you. anthony scaramucci, a nice
jewish boy, with that on the end. liz: early voting and absentee voting changing the way that races are run and won. how that trend could change the presidential race. je jeff. >> i am looking at the latest early vote totals in the democratic counties in ohio, do they favor donald trump or hillary clinton? if you want to know, you'll stay tuned. i'll tell you right after the brack. break. [accountant] my job is to manage and grow businesses. and i've never seen a rocket ship take off like this. [owner] i'm lindsey. i'm the founder of ezpz. my accountant... ...he's almost like my dad in this weird way. yeah, i'm proud of you. you actually did some of the things i asked you to do the other day (laughs). [owner] ha, ha, ha. [accountant] i've been able to say, okay...
>> the traditional way of voting on election day, before work, after work, trying to go during lunch break is over. i voted this morning. i mailed in my absentee ballot in new jersey 8:30 a.m., thank you for keeping the doors unlocked. you have early voting all different ways to get your vote in. so as you the voters across the
nation get ready to cast your vote. team fox business is listening what's on your mind. jeff flock in cleveland, robert gray in the springs, and kennedy. first to the buckeye state. it's been a must-win battle ground for the presidency, what, forever? every commander-in-chief since 1964 has claimed victory in the state during the general election and republican voters are taking no chances in this election and making sure to get their votes in, even if they can't get to a polling station. listen to this, absentee ballots surging by 14% among g.o.p. voters during this election cycle. this as absentee ballots from democrats in the state have fallen by 4%. jeff flock on the ground in cleveland talking to voters to tell us how they're feeling about the world series-- no, just kidding about donald trump and hillary clinton with just three days until the election. they don't want to talk about the world series, but they'll talk about the election. right? >> they want to talk about who
is ahead and back in the seventh game, they come back, oh, my god, there you go. they think the board of elections in ohio 40% of this state will have voted before election day pretty amazing. look at the tea leafs, democratic counties in ohio, three of the most populous ones, take a look at early vote there. these are the numbers of votes fewer in the democratic counties than they had four years ago. cuyahoga county where we stand in cleveland 44,000 fewer. franklin county, columbus, 11,000 fewer democratic ballots, or democratic registers who have voted. hamilton county, cincinnati, 3500 fewer. as we said in cuyahoga county if you look specifically here, g.o.p. folks, 2% up from four years ago, democrats, 38% down. now, it doesn't guarantee anything, the democrats may not be voting democrat, the republicans may not be voting
republican, but the republican chairman of cuyahoga county says it makes him feel very good. >> they are not enthusiastic on the democratic side about getting out and voting early in this. donald trump will get more votes out of this county than any of the other 87 counties in ohio and it will be cuyahoga county driving a trump win on election day. >> we'll see if that comes out, but in cuyahoga county tomorrow, liz, in addition to beyonce and jay-z yesterday will be lebron james who has been very articulate in his support of hillary clinton. he says she's the only one in this election that speaks for people that he cares about, the people that-- like he grew up in poverty in akron. she is ate one who has the message that resonates. >> a lot of people in ohio listens to lebron, jeff, thank you. >> he's a winner. liz: jeff flock, you are, too.
where jeff is live, i'm live, we're all live and we have this message. rejoice colorado millennials, this just in, crucial here. a federal judge in colorado ruled that selfies with your ballot inside the voting booth are a-okay. they're legal. too bad justin timberlake didn't vote in colorado, right? while many are in a rush to post voty selfies to instagram, bernie sanders is heading a get out the vote event in colorado springs, the senator trying to sway independent voters, a category where donald trump still leads hillary clinton. let's get to robert gray in colorado springs in advance of that speech. can you tell whether bernie supporters are getting behind clinton in meaningful numbers? >> we can't yet. we'll be outside of that hall in a few hours, it's a few hours away and we talked to a few folks on campus here touring the campus with their kids at colorado college, which is where bernie will be speaking in a few hours and
we'll be canvassing that crowd for sure, no doubt a lot of selfies and snap chats outside of that, as well, ahead of bernie's talk this afternoon and this evening, donald trump up the highway in denver. so, we'll be keeping close tabs on that, you talked about early returns and the democrats getting out early in colorado. the republicans have since come back and just about matched more than half of each party member so far voted, but only about a third of independent voters have voted. that's key because more than a third of all voters in colorado are independent. democrats, republicans, just about even. so, that's going to be the tale of the tape and tip this election. take a look at the latest polls right now. the magellan poll has hillary clinton a sizable lead, november 3rd and 2nd, determining if it's a outlier. the university of denver poll a dead heat at 39% each and
university of denver looking at ballot initiatives and there are a bunch, including colorado care and bernie sanders has been championing, the first state funded health care system and also on the ballot here, voting on raising tobacco taxes and minimum wage looking to ladder that up by a few bucks. and primaries telling they don't like they like it done. the democrats a closed primary system and they're lookling to change that. we'll find out about that on tuesday, back to you. liz: we keep saying sprint, but it's been a marathon, very much so for the candidates. we'll speak with voters in new york, kennedy is next and hockey season may be getting underway in wisconsin, but we saw a major power play in the senate there today. could wisconsin be the race that prevents the democrats from taking control of the senate? wisconsin? what we're going to do, we're
iment. liz: you know we're live right now, right austin? >> that's right. liz: and we're live again tomorrow, all day. open for business. and this, while our competitor over at cnbc, i think right now is airing a documentary trish regan did back seven years ago when she was there. >> what? >> kidding. there's room for all of us. and then charlie gasparino would say, no, there's not. the 2016 election is not just all about the presidency. the balance of power in the senate is at stake.
democrats need to flip four or five seats. four with the presidency or five to gain outright control of the senate. keys in the battle ground states could make the difference. we've got key team coverages for the down-ballot races, mike toben and peter barnes in new hampshire. we're starting if wisconsin where incumbent ron johnson is trailing fine gold by 1%. very narrow, but 1% nonetheless. it's well within the 3 1/2 margin of error, but it's one of the tightest races right now in the entire country. rust fine gold with a tiny lead, but johnson got high powered help when the vice-presidential candidate mike pence, house speaker paul ryan and governor scott walker joined him for a rally in the state. the latest details how
important this particular race is to the balance of power in the senate. reich? >> well, it's certainly a to the big name republicans and that's why you, with that perfect setup, you mentioned that governor mike pence came here to wisconsin to promote his own ticket, but because that race, between johnson and fine gold, has that razor thin margin right now and could very well decide control of the senate and ended up with this remarkable scene on stage. and all of these on the conservative side. congressman jim sensebrenner all on stage. speaker paul ryan on stage together promoting the same cau cause. >> and to a man that we're going to send back to the united states senate in a renewed republican majority, a man, outsider, a businessman, who brought common sense conservative values to the
united states senate and wisconsin is going to send senator ron johnson back to that majority. >> now, finegold is in the fight for the rematch for 2010 and working the crowds in the final days and jobs at his opponent saying johnson opposes abortion right and favoritizes social security and cozied up to the big corporations. >> on the issues with senator johnson, you don't even have a fighting chance, you have no chance. zero chance of getting a vote. he will never vote with you against the corporations and the billionaires and the multi-millionaires. >> now, both johnson and fi finegold says -- mike toben, thank you very much. to new hampshire where perhaps
the vicious battle for the presidency is best exemplified because the granite state has just 4 electoral votes and that's a tough fight in the senate race. here is who we've got. republican incumbent kelly ayotte has a slight edge over the state's governor maggie hassan. peter. >> that's right, they're in basically a statistical dead heat, but kelly ayotte has been moving up the last several weeks, last month or so, the popular governor here, the democrat maggie hassan had been leading. and then, you know, i guess as you can could say that ayotte's relationship with donald trump evolved, right? she's kind of had this tortured dance with him and his candidacy at first saying she would support him, but not campaign with him, and then, at one point said that he, yes,
would be a role model for her children and billy bush tape came out and she could not support donald trump. so for whatever reason, she has gained more favor i don't think the -- and getting more votes. and maybe rebounded from the deficit against hillary clinton and some voters perhaps, having her, if clinton looks like she might win having ayotte stay in the senate and over maggie hassan would help provide the republican check against the democrat in the white house. maggie hassan has charged that kelly ayotte has been just changing her positions on trump here and trying to tie her to trump, saying this is all political calculation on her part. it's just a calculated politician who's tied to washington special interest. but this is definitely one seat that the republicans now hope and are optimistic helping them
keep control of the senate, liz. liz: four electoral votes in that state and they're fighting tooth and nail over that. keep it here, fox business all weekend long. live election coverage. i'm here with team countdown right in our usual time slot, 3 p.m. eastern tomorrow. what are you doing tomorrow? whatever you're doing just keep it on fox business. we're going from 6 a.m. with stuart all the way through to 9 p.m. with lou. that's tomorrow night. now, while both clinton and trump are in marathon mode. did you guys know that kennedy and i are both marathoners and t triathlons-- try athletes? and there's chris hann-- and kennedy is talking outside the fox news studios. what do air bnb and parker, and
uber have in common? they were started by brilliant entrepreneurs here in america during the depth of the reception. our next two guests are capturing that lightning bolt in a bottle. and jordan, john jordan here with us, what they must do to spark the entrepreneurial spirit and guess what, it may start in the beltway. countdown coming right back. you didn't read your
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>> 13 minutes till the top of the hour, it's not just the candidates that seem to be in marathon mode in the final weekend before the election. a lot of very slim and fit voters running around new york at this hour. in case you didn't know, the ne while fox's election score card shows 29 lek coral votes are solidly in the democrat column. what do the voters think? kennedy on the case outside of our election 2016 headquarters? i think i scared people showing video of you and me at the new york city triathlon. >> what a wonderful day that was. we were going to compete next year in the tri as well. liz: yes, team fox business, fist pumping. what have you heard on the streets of new york. >> a woman behind me is holding up a giant trump plague and it's got holes in it because
someone tried to set it on fire. and that we're not safe and we need jobs. and a woman saying what we want say. the weather is crisp, yet inviting and runners from all over the world and country that have descended and scott is from michigan. he lives in tennessee now and he's voting for donald trump. is it because of that woman and her flag? >> those are the kind of people make me not want to vote for him. she's supportive and that's what we need. >> very vocal and impassionate and excited. what is it about donald trump that has gotten your support rather than hillary clinton? >> lack of choice. that's frustrating to bring up. >> the third party? >> that's a possibility, but we don't want the second choice in there and that's hillary. and we've got to make sure that somebody's in there that's actually going to choose a conservative supreme court, that's the most important thing. >> is your vote more a vote against hillary than for trump?
>> i'd say it's probably 50-50. >> what do your friends say who are democrats when you tell them you're supporting donald trump? >> i get some nasty looks occasionally. you know, between work and my other friends, there are some nasty looks. >> okay. well, why don't you go and mingle with our pal over there and you guys can high five for your love for djt. thank you, scott. have fun in new york. and you know, liz, the city is full of hillary supporters. we had one named ahman and he ran off because hillary supporters have short attention spans and terrified what she might do to them if she says the wrong thing. liz: we were late getting to you. that could be. kennedy, you're a libertarian. gary johnson, william wells, bill wells was on with neil earlier live and i might say not taped, like our competitors. do they get a seat at the table after the election even though they look not to win? what do you think?
>> no, i think they could have had a seat at the table and i think that the governor wells has been defeatist, when he goes on a show with liberal show and talks how he's vouching for principle like jill steen going on hannity and saying she's vouching for donald trump. it shouldn't happen. if you're on a presidential ticket you should be supporting that ticket and those ideas and they think that's where he's fallen short and william weld has fallen short. there's discontent. with a little more competency and embraced the moment and the message they could have gotten some of the undecided voters who are pro liberty. liz: okay. listen, i appreciate your perspective kennedy and thank you for wrangling the runners and people on street. >> can you hear the lady skill screaming? >> yes, new york on a regular day. the one, the only kennedy. we need to show you this, the vice-president, joe biden, is
taking the stage in bristol, pennsylvania any minute now, he's expected to walk out and you can see the crowd there waiting to hear from him. what's at stake? 20, 20 electoral votes in the state of pennsylvania. if he speaks, we're going to listen in, so, just stay tuned for that. in the meantime, we have to reveal something very important here. the question regarding why the u.s. economy can't get out of stall speed over the past decade may have finally just been answered by a group of harvard business school professors out with a new finding. >> it's not that our corporate taxes are the highest, it's the political system obstructing our economy and growth. joining me is one of the harvard professors who put together that study and live from los angeles, jordan winery ceo john, and thank you. for you, professor, your study is an indictment of washington politics, just as we face this
presidential election. what did you discover? how is your political system stymieing growth in this country? >> in combination with my colleague we undertook what is hurting united states competitiveness. first was tax policy, but more importantly was the sense of political gridlock and pessimism that anything is changing gentleman entime soon. that's influencing business decisions in all kinds of ways, but maybe most importantly, making people think that the u.s. political system is not one that they want to bet on. which makes they want to invest elsewhere and it's affecting u.s. competitiveness significantly. liz: we can take it to the ground with somebody like john jordan. you're an entrepreneur and businessman. do you see what the professor is talking about that's put up that wall in front of some entrepreneurs, know the all, some just scale it easily. we mentioned uber, we mention
air bnb, for example, and parker, all of those started in the u.s. during a recession and yet, nonetheless, maybe they could have been bigger by now. we don't know. >> well, actually, i couldn't disagree more. political concensus for its own sake is no virtue, if the result is bad public policy and what we've had over the last eight years is mountain ument-- monumentally bad, in prosperity in the name of redistribution. for example, roughly 2 trillion dollar worth of drag is imposed on the american economy as a result of regulation. 2.2 trillion overseas, up 20% from the last two years, money that's not brought back into this country at work. companies need expectations. they need to understand what the rules of the road are, what their cost structure is going to be and the explosion of growth of regulations, which
are arbitrarily enforced, ambiguous and difficult and constantly in flux inhibit the entrepreneurial spirit and animal spirit in fact and that's what stalls growth in this country. liz: what about off shore profits? i know your study must have looked at some of that, too. >> i completely agree that off shore profits are a piece of the public, but it's our problems with the corporate tax. we have the corporate tax system that's broken in many ways, worst of all words. giving incentives for firms to keep money overseas, really to invest overseas and deturing firms from abroad from investing in the united states. i think the political gain is a longer game, but the short run game is going to be on the tax system and corporate tax reform and fiscal reform with a lower top corporate rate switching to territory could be a shift for economic growth in the country.
liz: you know what stuns me exactly what the professor articulates, democrats and republicans said we need to fix it and lower it. this is stunning to me when you have both sides agreeing and it can't get done. that goes back to the original premise of the professor's study, gridlock in the beltway. >> the fact is democrats don't really want to lower it. the obama administration proposed lower to 28%, but it was wrapped in the budget and with a whole bunch of other things, poison pills or nonstarters for republicans. if the administration is serious about lowering the corporate tax rate and repatriating that money, do it as part of a clean bill that doesn't have poison pills and other things making it possible for republicans to support. what they did, the administration's proposal is nothing more than a figure leaf. they want to lower it to 20%. it needs to be 15 p-ers or there abouts.
do it as a clean bill. liz: and professor before we get you go, how do we catch the entrepreneurship, lightning in bottle no matter what happens inside the beltway. >> first is, there's a lot of enthusiasm for entrepreneurship. we need to clear the political season so we cannot think about this anymore and think about what matters which is economic growth and to do that we need certainty as the other gentleman suggested. we need better policies and i think the tax story that we talked about and then finally, we need to invest in our people. ultimately, entrepreneurship depends on that. >> great to have you both here. thank you so much. it's great to have both of you live on this saturday. and by the way, we're right back here tomorrow for special 2016 election cover and grover norquist, and jon hilsenrath expert on the fed and economy
>> happy saturday. this is a special weekend addition of after the bow. here is what we have coming up for you this hour. >> just three days ago and the candidates are making the most of it. fighting for every vote. new poll numbers come in. the clinton foundation is now admitting that she broke her code of ethics. details on that in a new batch of wikileaks coming in. president obama does an interview. but it's what he didn't say